News and Information from Bond Buyer

Washington's legislature adjourned after passing modest adjustments to the state's previous two-year budget while taking money from an account used to help fund municipal finance deals.

The Treasury Department auctioned $28 billion of seven-year notes, with a 1 1/2% coupon and a 1.606% high yield, a price of 99.300837.

After having among the most accommodative assumptions on the Federal Open Market Committee, Federal Reserve Bank of Chicago President and Chief Executive Officer Charles L. Evans said Wednesday he is “comfortable” with the projections in the latest Summary of Economic Projections.

In the Flint, Mich., case, Congress seems to be making clear it will increase its criticism of state and local leaders, but avoid any fiscal or moral responsibility.

Top quality municipal bonds were mixed at mid-session, according to traders, as more supply hit the market, topped by deals from California State University and Anne Arundel County, Md.

Connecticut lawmakers approved a plan to close an estimated $220 million deficit for fiscal 2016, while a nearly $1 billion shortfall for the following year hovers.

Hartsfield-Jackson Atlanta International Airport launched a $6 billion, 20-year capital plan; the world’s busiest airport is part of a wave of U.S. airports spending money on infrastructure as traffic booms.

Bradley Wendt of Charles River Associates provides market context to the MSRB’s 2016 mandate that “best execution,” a hallmark of the taxable fixed income and equity markets, becomes a staple for retail municipal bond investors.

Indicator Last Report Forecast Actual ADP Employment Report Feb.: +205,000 March: +194,000 March: +200,000

About 5,130,500 online job postings appeared on leading internet job boards in March, a decrease of 31,500 from February, the Conference Board reported Wednesday.

Municipal bond traders are waiting for the California State University deal to price for institutions on Wednesday while a highly rated Maryland issuer is selling bonds in the competitive arena.

Private-sector employment increased by 200,000 in March, on a seasonally adjusted basis, ADP reported Wednesday.

Mar. 30, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.4 2.72 3.55 4.46 Indiana Aaa/AAA/AA+ 0.55 1.18 1.94 2.88 Iowa Aaa/AAA/AAA 0.55 1.17 1.94 2.88 Michigan Aa1/AA+/AA 0.59 1.25 2.05 3.01 Minnesota Aa1/AA+/AA+ 0.57 1.15 1.86 2.77 Missouri Aaa/AAA/AAA 0.55 1.11 1.83 2.77 Nebraska NR/AAA/NR 0.55 1.2 1.99 2.96 North Dakota Aa1/AA+/NR 0.58 1.24 2.02 2.96 Ohio Aa1/AA+/AA+ 0.57 1.2 2 2.96 South Dakota NR/AA+/AA+ 0.57 1.2 2.02 2.98 Wisconsin Aa2/AA/AA 0.58 1.21 1.97 2.89

3/29/2016 3/22/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 4 $31,600 6 $98,075 -$66,475 Indiana 2 9,000 4 42,600 -33,600 Iowa 12 126,060 11 94,665 31,395 Michigan 13 248,805 14 302,845 -54,040 Minnesota 28 496,645 27 225,425 271,220 Missouri 2 51,200 2 6,400 44,800 Nebraska 0 0 0 0 0 North Dakota 2 6,470 2 10,615 -4,145 Ohio 5 60,705 6 167,476 -106,771 South Dakota 0 0 0 0 0 Wisconsin 22 102,515 26 301,675 -199,160

Wednesday, March 30 Issuer St Description Amount

Wednesday, March 30 Issuer St Description Amount

Week Of March 28 Issuer St Description Amount

ARKANSAS

The official discussion draft bill released on Tuesday to help Puerto Rico is drawing criticism from nearly all sides.

The outlook on North Dakota's issuer credit rating was lowered to negative, as Moody's Investors Service took note of economic and budget struggles triggered by falling crude oil prices.